Pros
They know they're not competitive on salary so they try to have great benefits to make up for it. The place offers a good work/life balance, tuition/childcare programs (work there for five years and your kid gets money to pay tuition at any college), lots of options for health insurance at relatively reasonable prices, continuing education opportunities, and nice touches like free Caltrain passes. You have to work hard but not too hard. It's a good, steady job and you know what to expect most days. It's not saving the world, but it still feels meaningful enough. Management treats people like adults.
Cons
Parking. Seriously. Parking on campus sucks. Most technical jobs have a work @ home option at least some of the time, but you're still probably going to be looking for a parking space three or four days a week. Biking is an option in good weather, if you're brave enough, or you can take public transit and the free shuttle from Caltrain. It takes a while to get where you're going, but it's about even compared to a bad parking day. The other risk is that you might have to interact with actual college students, but it can usually be avoided.